Although many businesses are still ailing from the effects of the global economic downturn and consumers remain somewhat reluctant to spend, the packaging industry has adapted to meet the new market challenges. Cutting-edge innovations in design, such as interactive packaging and smart labels, are on the rise, while perennial concerns such as sustainability continue to play a key role in the packaging industry.
Despite lingering economic difficulties brought on by the global economic crisis, the packaging industry is set to grow steadily for the short-term future thanks to rising demand for a range of packaged consumer, commercial and industrial goods. A number of key trends, including environmental concerns and technological innovations, are driving strength in sales. In short, the packaging industry is responding well to the changing needs of the market.
A 2010 report from Pike Research forecasts worldwide packaging industry revenues will increase from $429 billion in 2009 to $530 billion in 2014, reflecting a growth rate that is faster than that of the overall global economy. This rapid expansion will bring with it a corresponding increase in materials usage, energy consumption, transportation and disposal processes, making environmental impact a key concern in future packaging.
As with last year's top pack trends, sustainability remains a driving force in packaging, with many businesses working to adopt or expand eco-friendly processes.
2011 global pack trends
